Failure made me thirst for success

Entrepreneurs can often gain valuable experience from the collapse of a start-up and the earlier you get your failures behind you, the better

McDonagh founded Supermac’s only after his plan to open a pool hall was rejected

P
at McDonagh is one of Ireland’s best known entrepreneurs. His Supermac’s fast food chain has 106 outlets and a turnover of about €100m a year.

Despite the recession, new branches are opening all the time including, in the past six weeks, stores in Clifden, Co Galway, and Monasterevin, Co Kildare.

Yet McDonagh’s first foray into business was a complete failure.

The former schoolteacher opened a pool hall in Ballinasloe, Co Galway, in 1979 that fell foul of the planning authorities and had to close. With a bank loan to repay and no business from which to repay it, it could have been a disaster. Instead he turned it into a takeaway, and the rest is fast food history.

In an economic climate that is seeing a record number of business failures, the only silver lining for some of those entrepreneurs is that, perhaps, the lessons they have learnt will stand